There may be one soon – Van Eck has the Market Vectors Minor Metals ETF in registration. While you wait, though, there are other ways to get a rare-earth metals fix. Gordon points out that China accounts for a massive 97% of production of these metals. [Metals ETFs May Face CFTC Scrutiny.]

Guggenheim China Small Cap (NYSEArca: HAO): Gordon’s thesis is that the middle-class Chinese consumer accounts for 60% of the world’s rare earth metal consumption; that is, the Chinese consumer is responsible for buying the most electric and hybrid cars, which can’t be made without at least one rare-earth metal.

Tim Boreham for The Australian also says that while rare-earth metals may not be known by name to most, it might be time to start getting familiar with them. They’re used in many next-generation industries, such as clean tech and lithium batteries. You can get exposure to lithium producers via the Global X Lithium (NYSEArca: LIT), which is up 7.9% in the last month.

Tisha Guerrero contributed to this article.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Mr. Lydon serves as an independent trustee of certain mutual funds and ETFs that are managed by Guggenheim Investments; however, any opinions or forecasts expressed herein are solely those of Mr. Lydon and not those of Guggenheim Funds, Guggenheim Investments, Guggenheim Specialized Products, LLC or any of their affiliates. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.